Pandey, a 1984-batch IAS officer of the Maharashtra cadre, would continue to hold the additional charge of UIDAI CEO and Goods and Services Tax Network (GSTN) Chairman till further instructions.
Finance Minister Arun Jaitley commended Adhia’s contributions as the Revenue Secretary for bringing a series of reforms and wished him a good post-retirement life.
The total number of GSTR-3B returns filed for the month of May up to June 2018 is 64.69 lakh, the finance ministry said in a statement.
The government, he said, is working on removing the “unevenness in the tax paid by different classes of people” by using foolproof technological system.
The standard deduction, which replaces tax-free transport allowance of Rs 1,600 per month (Rs 19,200 a year) and medical expense reimbursement of Rs 15,000 per annum, will accrue automatically to salaried class and pensioners.
When asked about why government left the personal income tax slabs unchanged, Hasmukh Adhia said, “Increasing tax limits will expunge taxpayers from tax bracket. There is a big loss in this.”
GST revenue collections for the month of October are around Rs 10,000 less than the average revenue in the preceding three months.
Finance Secretary Hasmukh Adhia said that people had lot of cash stashed away in the houses, demonetisation has brought those hidden cash in the main banking channel.
The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising his state counterparts, had last week lowered tax rates on over 200 items.
Adhia added that Union government in recent times has taken long-term structural reforms to increase the tax-to-GDP ratio and to curb tax evasion through the use of technology.
The government on Monday designated Revenue Secretary Hasmukh Adhia as the Finance Secretary. Adhia was appointed as Revenue Secretary in the Ministry of Finance in September 2015.
With the new GST regime firmly entrenched, a complete overhaul of the tax rates is now required to reduce the burden on small and medium businesses, revenue secretary Hasmukh Adhia has said.
The GST Council has allowed businesses to file GSTR-3B, which is a self-assesment of their sale and purchases, till December.
On the issue of registration for the GST, he said about two lakh new registrations have been done since the registration reopened last week. Of these, 39,000 have already been approved.
The government, with its anti-profiteering rules under the GST regime, does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of GST to consumers
Revenue Secretary Hasmukh Adhia, took to Twitter to clear seven misconceptions about the GST.
Revenue Secretary Hasmukh Adhia said competition will take care that this does not give way to inflation.
The Goods and Services Tax (GST), to be launched from July 1, will unify about a dozen central and state levies like excise duty, service tax and VAT.
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